Tenaya Therapeutics’ (TNYA) “Buy” Rating Reaffirmed at HC Wainwright

HC Wainwright restated their buy rating on shares of Tenaya Therapeutics (NASDAQ:TNYA) in a research report report published on Friday,Benzinga reports. They currently have a $5.00 target price on the stock.

A number of other equities research analysts have also issued reports on TNYA. Canaccord Genuity Group cut their target price on Tenaya Therapeutics from $18.00 to $6.00 and set a “buy” rating on the stock in a research report on Thursday, March 13th. Morgan Stanley reduced their price objective on shares of Tenaya Therapeutics from $15.00 to $5.00 and set an “overweight” rating for the company in a research note on Wednesday, March 12th. Finally, Chardan Capital decreased their target price on shares of Tenaya Therapeutics from $18.00 to $9.00 and set a “buy” rating for the company in a report on Wednesday, March 12th. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $6.25.

Tenaya Therapeutics Trading Up 6.6 %

NASDAQ:TNYA opened at $0.49 on Friday. The company has a 50-day moving average of $0.63 and a 200-day moving average of $1.46. The firm has a market cap of $43.02 million, a price-to-earnings ratio of -0.34 and a beta of 2.98. Tenaya Therapeutics has a twelve month low of $0.39 and a twelve month high of $4.96.

Tenaya Therapeutics (NASDAQ:TNYA) last issued its earnings results on Monday, March 17th. The company reported ($0.28) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.32) by $0.04. On average, research analysts forecast that Tenaya Therapeutics will post -1.35 earnings per share for the current year.

Insider Buying and Selling at Tenaya Therapeutics

In related news, major shareholder Group Gp Lp Column III acquired 35,714,284 shares of the stock in a transaction that occurred on Wednesday, March 5th. The shares were purchased at an average cost of $0.70 per share, with a total value of $24,999,998.80. Following the completion of the transaction, the insider now owns 49,313,559 shares of the company’s stock, valued at approximately $34,519,491.30. This trade represents a 262.62 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Insiders have sold a total of 19,621 shares of company stock valued at $10,595 in the last 90 days. 32.76% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Tenaya Therapeutics

A number of hedge funds have recently modified their holdings of TNYA. SG Americas Securities LLC increased its position in Tenaya Therapeutics by 61.9% in the 4th quarter. SG Americas Securities LLC now owns 41,270 shares of the company’s stock worth $59,000 after purchasing an additional 15,777 shares during the last quarter. State Street Corp grew its stake in shares of Tenaya Therapeutics by 0.9% in the 3rd quarter. State Street Corp now owns 1,058,898 shares of the company’s stock valued at $2,044,000 after buying an additional 9,506 shares in the last quarter. Spire Wealth Management acquired a new position in Tenaya Therapeutics in the fourth quarter worth approximately $53,000. Geode Capital Management LLC raised its position in Tenaya Therapeutics by 5.4% during the third quarter. Geode Capital Management LLC now owns 1,296,156 shares of the company’s stock valued at $2,502,000 after acquiring an additional 66,968 shares in the last quarter. Finally, Sei Investments Co. acquired a new stake in Tenaya Therapeutics in the fourth quarter valued at approximately $100,000. 90.54% of the stock is owned by institutional investors and hedge funds.

Tenaya Therapeutics Company Profile

Tenaya Therapeutics, Inc, a biotechnology company, discovers, develops, and delivers therapies for heart disease in the United States. It develops its products through gene editing, cellular regeneration, and gene addition. The company is developing TN-201, a gene therapy for myosin binding protein C3-associated hypertrophic cardiomyopathy which is in phase 1 clinical trial; TN-301, a small molecule for heart failure with preserved ejection fraction which is in phase 1 clinical trial; and TN-401, a gene therapy for plakophilin 2-associated arrhythmogenic right ventricular cardiomyopathy which is in preclinical stage.